Indian billionaire praises blockchain technology for differentiating cryptocurrencies

Indian billionaire Mukesh Ambani expressed his confidence in DeFi (Decentralized Finance).

According to foreign media, the future price of Indian cryptocurrency has certainly won the support of the richest man in India.

On December 3, Reliance Industries President Mukesh Ambani said, “We believe in blockchain technology. He said at the global financial technology event which in all kinds of markets blockchain technology can not only increase automation and efficiency, but also provide elements of security never before.

“I believe in cryptocurrencies and other blockchain technologies,” he said, “I think smart tokens can ensure the business is done.” “In today's world, it's a lot easier for big businesses to make money, while small businesses aren't. So people. Big customers have extensive networks and” Small customers are difficult to move. I think that will change. "

Ambani also said that the field of financial management will change dramatically over the next ten years. Decentralized finance is a form of blockchain-based financial system that can operate without intermediaries, exchanges, or physical banks, devoted to a variety of small services called smart contracts.

"I think the integration of data distribution, blockchain technology, smart tokens, etc., and the physical and digital integration of the Internet of Things will enable and recover the analysis of the distribution of a way that we did not consider.

At the time of Ambani's announcement, Indian government Narendra Modi had crafted a cryptocurrency bill that would divide virtual tokens into financial assets and protect small investors.

The wealthy trader said India was "right" in terms of introducing personal information laws and cryptocurrency laws.

Interestingly, while the regulation of cryptocurrencies is a top government priority, Bank of India Governor Shakti Kentadas believes blockchain technology that supports cryptocurrencies can stand on its own feet.

So what is Deppy?

DeFi is a new financial services industry, a new financial service developed by various financial service providers.

All major DeFi contracts provide financial support. In other words, financial service robots provide financial services. As in the natural world, a mortgage lender or financial institution helps you. We help you manage your money, banking investments and more.

These financial robots are very similar to traditional financial services companies except that these robots are operational, independent and create rules.

So we play DeFi as modern users and enter the world of DeFi as if we come to a room with several robots. If you want to use some financial services including loans, businesses or products etc., you turn to one of the bots using financial and marketing services. This robot is called DeFi.